Rhumbline Advisers lessened its holdings in shares of Lear Co. (NYSE:LEA – Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 184,585 shares of the auto parts company’s stock after selling 1,404 shares during the period. Rhumbline Advisers owned 0.31% of Lear worth $25,748,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in LEA. American Century Companies Inc. grew its holdings in shares of Lear by 4.0% during the first quarter. American Century Companies Inc. now owns 10,192 shares of the auto parts company’s stock worth $1,454,000 after purchasing an additional 390 shares during the last quarter. Private Advisor Group LLC bought a new position in Lear in the first quarter valued at about $657,000. Bank of Montreal Can lifted its stake in Lear by 81.0% in the first quarter. Bank of Montreal Can now owns 19,834 shares of the auto parts company’s stock valued at $2,890,000 after buying an additional 8,878 shares during the period. Raymond James Trust N.A. lifted its stake in Lear by 47.8% in the first quarter. Raymond James Trust N.A. now owns 1,948 shares of the auto parts company’s stock valued at $277,000 after buying an additional 630 shares during the period. Finally, Aviva PLC lifted its stake in Lear by 62.8% in the first quarter. Aviva PLC now owns 39,256 shares of the auto parts company’s stock valued at $5,598,000 after buying an additional 15,137 shares during the period. Institutional investors own 97.04% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on LEA shares. JPMorgan Chase & Co. increased their target price on Lear from $169.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, July 20th. Barclays increased their target price on Lear from $150.00 to $165.00 in a research note on Monday, July 10th. StockNews.com assumed coverage on Lear in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Benchmark raised their price target on Lear from $182.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Lear from $137.00 to $147.00 in a research report on Wednesday, June 28th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Lear currently has a consensus rating of “Moderate Buy” and an average target price of $164.64.
Lear Stock Up 1.7 %
LEA stock opened at $142.92 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $146.66 and a two-hundred day moving average price of $138.51. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 0.36 and a beta of 1.58. Lear Co. has a twelve month low of $114.67 and a twelve month high of $157.90.
Lear (NYSE:LEA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.12. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.89 billion. Lear had a return on equity of 13.84% and a net margin of 2.32%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $1.79 earnings per share. Analysts anticipate that Lear Co. will post 11.83 EPS for the current fiscal year.
Lear Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.08 dividend on an annualized basis and a yield of 2.16%. Lear’s dividend payout ratio is 35.16%.
Insider Buying and Selling at Lear
In other news, SVP Carl A. Esposito sold 10,310 shares of Lear stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $155.00, for a total transaction of $1,598,050.00. Following the completion of the transaction, the senior vice president now directly owns 9,105 shares in the company, valued at approximately $1,411,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Frank C. Orsini sold 12,332 shares of Lear stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $155.40, for a total transaction of $1,916,392.80. Following the completion of the transaction, the executive vice president now directly owns 7,809 shares in the company, valued at approximately $1,213,518.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carl A. Esposito sold 10,310 shares of Lear stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $155.00, for a total value of $1,598,050.00. Following the sale, the senior vice president now directly owns 9,105 shares of the company’s stock, valued at $1,411,275. The disclosure for this sale can be found here. Insiders sold a total of 42,132 shares of company stock worth $6,321,732 over the last ninety days. 0.75% of the stock is currently owned by corporate insiders.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.
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